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Firstbank Pays 2Billion Naira TSA Fine - Business - Nairaland

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Firstbank Pays 2Billion Naira TSA Fine by NgeneUkwenu(f): 1:52pm On Oct 29, 2015
First Bank of Nigeria Limited says it has paid the N1.877 billion fine imposed on it by the Central Bank of Nigeria (CBN) for its failure to totally comply with regulations regarding the Treasury Single Account (TSA).

The apex bank indicted Nigeria’s premier commercial bank for concealing N37,548,198,102.41 belonging to the Nigerian National Petroleum Corporation (NNPC).

However, in a letter signed by Tijjani Borodo, secretary of First Bank, and addressed to the Nigerian Stock Exchange (NSE), the bank said the payment had been made. “We wish to confirm and acknowledge imposition of a fine of the sum of N1.877 billion by the Central Bank of Nigeria (CBN) on our subsidiary (First Bank) and declare that the fine has since been paid,” the letter read.

The letter also informed the NSE that the bank is “engaging conversations with the CBN” on the regulatory decision and assured its investors that it would continually take responsibility, while complying with stipulated regulations. “Kindly be assured that the bank and the entire FBN Group as responsible corporate citizens remain committed to values epitomized by strict compliance to the highest standards of ethics and corporate governance,” the letter read. United Bank for Africa (UBA) was also fined over N2.9 billion for failure to comply with the TSA policy.



https://www.thecable.ng/first-bank-pays-n1-9b-tsa-fine

2 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by NgeneUkwenu(f): 1:53pm On Oct 29, 2015
Another Jonathan's achievement being claimed by the Duara Man.

For The Record: The fine was imposed and fully paid under Jonathan Government. APC liars!!

37 Likes 1 Share

Re: Firstbank Pays 2Billion Naira TSA Fine by januzaj(m): 1:54pm On Oct 29, 2015
good......MTN should pay their fine to NCC asap......This govt na talk and do.....See as everybody dey fear

20 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by Nobody: 1:58pm On Oct 29, 2015
When MTN go pay their own?

2 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by marv1: 1:58pm On Oct 29, 2015
Truely the first indeed. I know someone must answer query to that effect.

1 Like

Re: Firstbank Pays 2Billion Naira TSA Fine by CharlesPhc: 1:59pm On Oct 29, 2015
Obviously they may have deducted the fine from the unreasonable, incessant hidden charges they always deduct from depositors account.

First Bank of Nig Plc (unlike other banks where I also have Accounts) is reputed for making illegal deductions from my Cooperate Account every now and then even when I'd not done any transaction. Worst still, they would say N200 debited from your account but many times when I cross checked with my previous balance sent as alert by same First Bank, I realized they'd deducted N1000 and not N200 as claimed.

Imagine if they deduct N100 each from 1m Depositor’s Accounts Nationwide every month…!!!

10 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by NgeneUkwenu(f): 2:03pm On Oct 29, 2015
Keneking:
When MTN go pay their own?

They have no choice!! Chanji!! grin grin

9 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by seunmsg(m): 2:03pm On Oct 29, 2015
Why will First bank and NNPC be concealing a whopping N37 billion? At least, NNPC is now under a new management, why are they still trying to continue in the corrupt and shady way of doing things that characterised the GEJ government? I hope the management of NNPC will also be sanctioned as First bank obviously did their bidding.

2 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by wachakuta(m): 2:06pm On Oct 29, 2015
Okay MTN go nd pay ya own too
A new sheriff is in Town

3 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by patrickmuf(m): 2:06pm On Oct 29, 2015
Still awaiting the news of MTN fine...
Re: Firstbank Pays 2Billion Naira TSA Fine by superstar3: 2:07pm On Oct 29, 2015
Good omen. The era of taking the government of the nation for a ride is gradually fading away.

8 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by OrlandoOwoh(m): 2:12pm On Oct 29, 2015
Quest means business, Buhari means business.
Let me he wailing saTANists say the fine was imposed under Jonathan.

6 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by NgeneUkwenu(f): 2:13pm On Oct 29, 2015
seunmsg:
Why will First bank and NNPC be concealing a whopping N37 billion? At least, NNPC is now under a new management, why are they still trying to continue in the corrupt and shady way of doing things that characterised the GEJ government? I hope the management of NNPC will also be sanctioned as First bank obviously did their bidding.

Those NNPC staff are all criminals..I know it will take Kachikwu Time to clear the Augean Stables in the sector.

7 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by Adesiji77: 2:15pm On Oct 29, 2015
marv1:
Truely the first indeed. I know someone must answer query to that effect.

Sure banker!
Re: Firstbank Pays 2Billion Naira TSA Fine by LordMecuzy(m): 2:21pm On Oct 29, 2015
Is This Happening In Nigeria?
Re: Firstbank Pays 2Billion Naira TSA Fine by Leopantro: 2:22pm On Oct 29, 2015
POINT OF CORRECTION. CBN debited the two banks and collected the money. The bank didn't have an option of paying. Stating that the money was paid is an oxymoron

18 Likes 1 Share

Re: Firstbank Pays 2Billion Naira TSA Fine by marytmatthew(f): 2:22pm On Oct 29, 2015
MTN Come and Pay your 1 Trillion ooo



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Re: Firstbank Pays 2Billion Naira TSA Fine by Sweetguy25: 2:22pm On Oct 29, 2015
MTN should follow suit. Pay your 1 trillion naira fine MTN!

1 Like

Re: Firstbank Pays 2Billion Naira TSA Fine by lordcrux: 2:22pm On Oct 29, 2015
Poorhari body dance at wrk......... stil muah[size=40pt] Lord C on ma way to sucess [/size]
Re: Firstbank Pays 2Billion Naira TSA Fine by Nobody: 2:22pm On Oct 29, 2015
[size=28pt]E REMAIN MTN[/size]

1 Like

Re: Firstbank Pays 2Billion Naira TSA Fine by itsIYKE(m): 2:22pm On Oct 29, 2015
I
Re: Firstbank Pays 2Billion Naira TSA Fine by Badboiz(m): 2:23pm On Oct 29, 2015
NgeneUkwenu:
Another Jonathan's achievement being claimed by the Duara Man.

For The Record: The fine was imposed and fully paid under Jonathan Government. APC liars!!

Were you hacked??...

3 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by Godwin978(m): 2:23pm On Oct 29, 2015
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Re: Firstbank Pays 2Billion Naira TSA Fine by bengems(m): 2:23pm On Oct 29, 2015
If this is true, that means Nigeria is getting back to her feet again!



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Re: Firstbank Pays 2Billion Naira TSA Fine by Firefire(m): 2:23pm On Oct 29, 2015
Too much money, 5% Fine is too low.
Re: Firstbank Pays 2Billion Naira TSA Fine by RichDad1(m): 2:23pm On Oct 29, 2015
How does this change the Price of garri in the market? angry angry
Re: Firstbank Pays 2Billion Naira TSA Fine by Firefire(m): 2:23pm On Oct 29, 2015
NgeneUkwenu:
Another Jonathan's achievement being claimed by the Duara Man.

For The Record: The fine was imposed and fully paid under Jonathan Government. APC liars!!

1 Like 2 Shares

Re: Firstbank Pays 2Billion Naira TSA Fine by emmygzy(m): 2:23pm On Oct 29, 2015
channnnnji
Re: Firstbank Pays 2Billion Naira TSA Fine by sammyj: 2:23pm On Oct 29, 2015
Ok
Re: Firstbank Pays 2Billion Naira TSA Fine by enilowo(m): 2:24pm On Oct 29, 2015
NgeneUkwenu:
Another Jonathan's achievement being claimed by the Duara Man.

For The Record: The fine was imposed and fully paid under Jonathan Government. APC liars!!

You are a fool. Is TSA Jonathan idea? MUMU

11 Likes 1 Share

Re: Firstbank Pays 2Billion Naira TSA Fine by RichDad1(m): 2:24pm On Oct 29, 2015
Badboiz:


Were you hacked??...
Sarcasm

4 Likes

Re: Firstbank Pays 2Billion Naira TSA Fine by menix(m): 2:24pm On Oct 29, 2015
Good.

FBN will easily pay nah when dead pensioners money full their vault..

1 Like 1 Share

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